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new york newspaper chooses to publish the names and addresses of thousands of private citizens who have legal gun permits. can the mainstream media still claim not to hate all gun owners after a stunt like this? "the kudlow report" starts right now. let's get the latest on the snag on the fiscal cliff talks and surprise news we are going to reach the debt ceiling in days instead of just a few months. john harwood has the details. what's going on? >> not a whole lot of actions going on. although there have been some developments. let me bring our viewers up to date on those. first of all, treasury secretary geithner this afternoon announced the united states would hit the statutory debt limit on monday. that's new year's eve. that's part of an effort to pressure congress to act to raise the debt limit which may or may not be direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this i
was interesting. he ended his last speech at the economic club of new york, i believe, by saying if we could just get past what is ultimately a stupid debate. >> right. >> there's some momentum here. and quite frankly for a lot of us in the market, we'd like to move past this. >> do you expect, however, while we fight for this fiscal cliff baloney, do you expect the market selloff? >> sure. >> today notwithstanding, but it finished well off the lows today. >> as jackie talked about, it's up for the week. for the month. i think there's still a modest positive gain. what's interesting in this debate is the two previous times we've increased capital gains, nixon in 1970 and reagan, of course, with the tax reform act of '86. the december preceding the adjustment, the stock market was down. december 1969, december 1986. i don't think people have believed they wouldn't get a deal. when we talked about we're going over the cliff after the election, i think we were the only ones in some level, at least prominence in the ability of coming on your show. we were the only ones saying that could happen. >> ca
remember that disco is few years ago in new york where the guy was thrown out. he went and got gasoline and matches and managed to kill all those people without even entering the place. all these solutions make sense. but you can never fully defend yourself against a madman. >> do we know where the mother was killed, at the home in newtown or at the school? >> no. someone was killed at that home. there are two crime scenes in newtown. the first thing i saw when i put on the television, a woman saying, i can't believe it happened here. again, it's mental illness. i would imagine there's more guns in the inner city than in newtown. it's not a case of that. we have to somehow have a way of finding these people, identifying these people and preventing this. >> and yet as we all know we don't want to -- there is a very high incidence of mental illness, very small incidence relative fo tto the amount of ml illness of these kinds of hideous events. how do we not stigmatize people who will never, ever commit or come close to committing a crime like that? these really are -- >> multiply point ab
? joining us now in studio, we welcome distinguished house members carolina maloney of new york and larry kudlow's house member in manhattan. and the republican from arizona. as always, welcome to both of you. dave, let me ask you this. i'm hearing a lot of this that there is a strategic retreat by the republican party. 57b and that they are not either in the house or senate going to block the middle class stax tax cuts which proliferate in terms of the bill. is that true, sir? >> i haven't been invited into the strategic retreat caucus. look. i hear more on the news than i ever actually come across in reality in d.c. so far, i do not see a willingness, particularly on the conservative side of the caucus, to give away our principles. >> i heard rand paul thursday night on this show. he sent a message to majority leader reed that he, rand paul, was a tea party caucus guy, free market guy, will not filibuster. he wants to get through it. he's going to vote against tax cuts but will not filibuster. there are a coup ohlele dozen house members, as you know, who signed the bipartisan letter say
in new york. >> absolutely. you don't have to just trade the s&p 500. i mean, look at tonight, you're seeing australia up a third of a point. the japanese yen is doing very well. look at hong kong. if you want to take what the federal reserve did and apply it internationally, look at hong kong. their monetary policy is pegged to what the federal reserve does. but they have an inflation issue and their economy is tied to china. so if you buy something like ewh, the hong kong etf, all those stocks are priced in hong kong dollars. if the hong kong dollar is repegged, the ewh will go up as much as the repegging. >> what does that mean for the u.s. market? where are you on the u.s. market right now? >> you know, i think right now, probably to the end of year, if we can get some kind of movement on this fiscal cliff, you have a real potential for a pop, 3%, 4%, 5%. unfortunately, as i look to 2013, i'm looking at u.s. austerity. so the question is how much is that going to be, and if it's a lot and the rest of the world can't pick up the slack, then we've got problems. if it's just a lit
for "the new york times" and "the huffington post." it depends on the small business. it's funny when people say all small businesses will be affected if the fiscal cliff does hit, but don't forget, there's over 20 million small businesses in this country and it depends what business you're in, where you're located and what business you're in and where your customers are and there are factors when you start to generalize. >> we hear it mostly on the taxation side. if you raise taxes on people who make more than $250,000 don't forget a lot of small businesses file as individuals and make more than $250,000. >> it's absolutely true. i mean, but most small businesses, particularly my readers and the clients that i have, they're bracing for that. it seems an ineshvitablility th there will be increases in capital gains and interest rates and estate taxes next year and that all seems to be on the board. >> health care will get more expensive if they provide it. >> michelle, remember, it's not going cripple many small businesses. it's a deterrent from them investing and it's a deterrent from
will be on taxes? >> i see it going off to 200, and i think democrats especially from new jersey, new york, connecticut, that would be fine with them and it's just a matter of damage control. >> and will republicans have to pay in any way for something that has no spending cuts in it. >> ideally, a lot of these guys would like to wait until january so they can say we voted for a tax cut and the new status quo is where all of the taxes have gone up. i'm sure there will be primary challenges. >> what do you think? >> first of all, let me be clear. i think 50/50 at best for exactly the reason you cited. i can't imagine that reid and mcconnell are having a happy discussion right now, so there will be serious differences there. for example, if mcconnell insists on keeping the estate tax parameters where they are instead of going where the president is, that completely seals the deal and that's one piece. >> michelle, you've made that point throughout the show, and i partially agree with you, but i will tell you this. right now everybody in this town is focused on taxes and preventing 98% of hou
Search Results 0 to 6 of about 7